Heritage Oaks Bancorp (HEOP) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Heritage Oaks Bancorp acts as a bank holding company of Heritage Oaks Bank. Other than holding the shares of the Bank, the Company conducts no significant activities, although it is authorized, with the prior approval of the Board of Governors of the Federal Reserve System, to engage in a variety of activities that are deemed closely related to the business of banking. The Bank offers traditional banking products, such as checking, savings and certificates of deposit, as well as mortgage loans and commercial and consumer loans. “
Separately, Hovde Group began coverage on shares of Heritage Oaks Bancorp in a report on Friday, August 19th. They issued a market perform rating and a $8.50 target price for the company.
Shares of Heritage Oaks Bancorp (NASDAQ:HEOP) opened at 8.14 on Wednesday. The stock’s 50 day moving average price is $8.14 and its 200 day moving average price is $8.07. The stock has a market cap of $276.79 million, a price-to-earnings ratio of 17.70 and a beta of 0.72. Heritage Oaks Bancorp has a one year low of $6.95 and a one year high of $9.25.
Heritage Oaks Bancorp (NASDAQ:HEOP) last posted its earnings results on Monday, August 1st. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Heritage Oaks Bancorp had a net margin of 19.59% and a return on equity of 7.52%. Analysts forecast that Heritage Oaks Bancorp will post $0.48 earnings per share for the current year.
In other Heritage Oaks Bancorp news, Director Alexander Simas purchased 6,500 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was acquired at an average price of $8.29 per share, for a total transaction of $53,885.00. Following the completion of the purchase, the director now directly owns 69,685 shares in the company, valued at approximately $577,688.65. The purchase was disclosed in a filing with the SEC, which is available through this link. 31.32% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. increased its position in Heritage Oaks Bancorp by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 185,406 shares of the company’s stock valued at $1,444,000 after buying an additional 1,875 shares during the period. State Street Corp increased its position in Heritage Oaks Bancorp by 2.9% in the first quarter. State Street Corp now owns 328,815 shares of the company’s stock valued at $2,565,000 after buying an additional 9,248 shares during the period. Geode Capital Management LLC increased its position in Heritage Oaks Bancorp by 3.3% in the first quarter. Geode Capital Management LLC now owns 152,194 shares of the company’s stock valued at $1,185,000 after buying an additional 4,900 shares during the period. Renaissance Technologies LLC increased its position in Heritage Oaks Bancorp by 26.9% in the first quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock valued at $633,000 after buying an additional 17,200 shares during the period. Finally, Endeavour Capital Advisors Inc. acquired a new position in Heritage Oaks Bancorp during the first quarter valued at approximately $3,069,000. Institutional investors and hedge funds own 62.85% of the company’s stock.
About Heritage Oaks Bancorp
Heritage Oaks Bancorp is the holding company for Heritage Oaks Bank (the Bank). The Bank offers traditional banking products, such as checking, savings, money market account and certificates of deposit, as well as mortgage loans and commercial and consumer loans to customers who are predominately small to medium-sized businesses (SMBs) and individuals.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Heritage Oaks Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Oaks Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.